Crypto analyst Miles Deutscher declares the volatile market facing the crypto industry and outlines his top picks for crypto tokens that resist prevailing trends.
He especially emphasizes Solana. Solana recently faced a power outage, but has held up pretty well during these uncertain times.
Crypto analyst Miles Deutscher talks about Solana
Deutscher noted that sentiment surrounding Solana has declined since yesterday's problems with Solana's network.
“But with this morning's power outage, sentiment has clearly deteriorated. A retest of the $80 area is a buy for me. I'm just waiting for things to settle down.”
This comes as BeInCrypto reports that prominent Solana validators on X, the mainnet beta of the Solana network, are being vetted by core engineers and validators to address outages. I did.
“Solana mainnet beta is experiencing performance degradation and block progression is currently halted, and core engineers and validators are actively investigating.”
Over the past 24 hours, the price has not fluctuated much, with a decline of less than 1%. Over the past seven days, Solana has fallen about 5%.
At the time of publication, Solana is priced at $96.84.
We also discuss JUP, Jupiter Exchange's native token, which created a lot of buzz before its launch last week.
“Looks solid chart-wise (seems to be finding the price floor). The CEO also suggested that JUP stakers will be eligible for future airdrops, following a similar strategy to TIA and MANTA.” .”
German says JUP “looks solid”
However, BeInCrypto reported that last week's JUP airdrop is considered to be one of the largest in Solana's history. Meanwhile, more than half of the eligible wallets have yet to claim their Jupiter (JUP) tokens.
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Additionally, on February 1st, BeInCrypto reported that the JUP token experienced a price collision of over 70% just 24 hours after it was airdropped to early adopters.
DeFi Dad, a well-known crypto analyst, shared these insights with his 156,000 followers. He reiterated that this is one of the many reasons for his bullish stance regarding price predictions for the next bullish cycle.
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His reasoning was based on Vance Spencer's explanation in his post about X.
“It’s going to be hard to compete with Ethereum’s onboarding funnels – Gaming L2 (IMX, Ronin) – Corporate L2 (Base, Worldcoin) – Social L2 (Lens, Farcaster) – Everything else being spewed out (hundreds?) Tokens to acquire L2 users.”
Deutscher also focuses on MATIC, FXS, and MKR.
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